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A passage back to India

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That India's economy has been booming is no longer news. The last few years have seen a country once thought of by some for its colonial past, temples and culture becoming a modern, thriving economy driven by high technology and a relentless enthusiasm for growth.

In the midst of this, as the retail sector has mushroomed and a middle class has emerged, the property market has boomed as well, particularly in the areas of greatest economic development in and around the huge cities.

These are all closely linked, according to the Associated Chambers of Commerce and Industry of India, which predicted in January this year that the 2007 statistics for these two sectors would show 40 to 45 per cent growth through 2007 for each. The body also said this would carry on in 2008.

With this kind of growth, it is small wonder that India is attracting substantial overseas investments. Discussing this, Jaideep Singh, head of the India Desk at Knight Frank stated: "Bombay and Delhi are doing very well here. The places investors from the UK usually go for are Delhi, Bombay, Chandigarh, Bangalore … there are lots of places."

Mr Singh added that this is particularly true of Britain's Indian population. Where once India was a place people left to come to Britain looking for a better life, now those ex-pats and their children are looking back to the subcontinent and its many opportunities.

He stated: "Non-residents who are originally from India buy properties there. A lot of them are now buying in India because of the appreciation there. A lot of them have invested in places like Delhi, Bombay, Chandigarh, Jaipur … all the big cities."

Of course, there may be good - and obvious - reasons why this sector makes up a large part of Britain's investors in India. Shared culture, language, an understanding of ways of doing business and family links are all reasons which may pass by other Britons looking to India, although none of these are necessarily a reason for others to avoid the country. Good research may be needed, however, to close any gaps in knowledge.

In addition to the places mentioned by Mr Singh at Knight Frank, other locations have also been noted as popular with the Anglo-Indian buyers. The Press Trust of India has named other locations such as Gujarat, Gurgaon, Pune and Jaipur as also being centres of attention.

Reporting from its London base, the Press Trust of India said the UK capital was poised to host the "India Homes Fair", run by the Housing Development Finance Corporation, which will run for two days from June 28th and feature 18 major developers. Not only is the investment pouring into India from ex-pats, but the developers, it appears, are making every effort to bring in more.

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